Segway: Ninebot Acquires Segway to Overcome 'Copycat China' Culture

April 15, 2015 10:10 PM

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Two companies have sealed a deal that’s raising eyebrows: Segway, the struggling American maker of disgraced self-balancing scooters, has been bought by Ninebot, the Chinese rival that Segway recently accused of copying its signature two-wheelers.

Ninebot announced the curious acquisition for an undisclosed sum on Wednesday, which followed a combined $80 million investment from mega-rich Chinese smartphone company Xiaomi, investment firm Sequoia Capital and other backers. The two electric scooter makers will still operate as separate brands w...